EVR Holdings PLC Partnership agreement with Telefónica (0408J)

TIDMEVRH

RNS Number : 0408J

EVR Holdings PLC

06 September 2016

 
For immediate release  6 September 2016

EVR Holdings plc

('EVR' or the 'Company')

Partnership agreement with Telefónica

EVR Holdings plc (AIM: EVRH), a creator of virtual reality content, is pleased to announce that its subsidiary MelodyVR Ltd ("MelodyVR") has entered into a strategic partnership agreement ("Agreement") with Telefónica Germany GMBH & Co. OHG ("Telefónica"), the largest mobile communication provider in Germany. Under the terms of the Agreement, Telefonica will showcase a 'lite' version of the MelodyVR app across Telefónica's 665 O(2) branded stores throughout Germany beginning in September 2016 for a period of one year.

In addition, 65 flagship O(2) stores in Germany will actively market the MelodyVR app via a branded in-store area designed to encourage consumers to try the MelodyVR app on a Samsung Gear VR headset. The 'lite' version of the MelodyVR app will enable O(2) customers to experience content from artists such as The Who, Kygo and The London Symphony Orchestra.

Anthony Matchett, Chief Executive Officer of EVR Holdings, said:

"We are pleased to announce a strategic partnership with Telefónica that will see the MelodyVR platform made available to consumers to experience across O(2) stores in Germany. A recent consumer study undertaken by Ipsos Connect has shown that consumer awareness of VR in Europe is highest in Germany with 79.5% of respondents stating that they have heard of VR, with the UK following at 74.85%.

"Over the next year we expect that consumer adoption of VR devices will be significantly accelerated via direct interaction with virtual reality hardware in high street retail stores. Prior to the wider launch of our platform, we are pleased that a bespoke 'lite' version of the MelodyVR app, containing a cutdown selection of content, will be used to showcase the potential of VR to thousands of O(2) customers over the coming months, as well as throughout the 2016/17 festive period.

"We believe that our partnership with Telefónica not only provides EVR with an excellent footprint in the large German market but also provides a robust platform for entry into the wider European marketplace going forward."

- Ends -

For further information:

 
EVR Holdings plc 
Sean Nicolson, Chairman                                   Tel: +44 (0) 20 7466 
                                                                          5000 
Anthony Matchett, Chief                                    www.EVRHoldings.com 
 Executive Officer 
 
SPARK Advisory Partners Limited (Nominated 
 Adviser) 
Neil Baldwin / Sean Wyndham-Quin                          Tel: +44 (0) 203 368 
                                                                          3550 
                                                 www.sparkadvisorypartners.com 
 
Peterhouse Corporate Finance Limited (Broker)             Tel: +44 (0) 20 7469 
                                                                          0930 
Eran Zucker / Lucy Williams                                   www.pcorpfin.com

Media enquiries:

 
Buchanan 
Henry Harrison-Topham / Jamie  Tel: +44 (0) 20 7466 
 Hooper                                        5000 
 Stephanie Watson / Catriona 
 Flint 
EVR@buchanan.uk.com             www.buchanan.uk.com

Notes to Editors:

MelodyVR

MelodyVR is a wholly owned subsidiary of EVR Holdings plc ('EVR'), a company that is listed on the AIM segment of the London Stock Exchange under the ticker EVRH.L. EVR, a creator of virtual reality content, joined AIM on 16 May 2016 following a reverse takeover of Armstrong Ventures plc. Further information can be viewed at www.evrholdings.com

Virtual Reality in 2016

The virtual reality industry is growing at a significant rate and 2016 is on course to be the breakout year with launches of Oculus Rift, Playstation VR and HTC Vive. According to Deloitte the industry is expected to break the US$1bn barrier for the first time this year and Goldman Sachs estimate that the market could be worth US$80bn by 2025.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 06, 2016 02:01 ET (06:01 GMT)

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